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17. PERSONNEL EXPENSES, DEPRECIATION AND AMORTIZATION
Personnel expenses, depreciation and amortization are all classified under operating expenses. Details are as follows:
December 31, 2015
December 31, 2014
Personnel expenses
Salaries
$ 125,021,680
$ 130,746,288
Labor and health insurance
11,257,742
11,179,002
Pension
17,806,629
10,769,383
Others
3,132,617
3,651,338
$ 157,218,668
$ 156,346,011
Depreciation
$ 3,458,495
$ 3,892,215
Amortization
$ 2,196,408
$ 778,405
18. COMMITMENTS AND CONTINGENCIES
1) Pursuant to the Regulations for Loans by the International Cooperation and Development Fund, the loan amount
in U.S. dollars under the loan agreements entered into by the TaiwanICDF amounted to US$222,439,063.81 and
US$192,839,063.81 as of December 31, 2015 and 2014, respectively. The total amount of loans drawn down
amounted to US$177,639,063.81 and US$180,151,084.23, and the undisbursed committed balance amounted to
US$44,800,000.00 and US$12,687,979.58 as of December 31, 2015 and 2014, respectively. Additionally, the loan
amount in Euro dollars amounted to €56,553,755.54 as of December 31, 2015 and 2014. The total amount of loans
drawn down amounted to €20,837,674.52, and the undisbursed committed balance amounted to €35,716,081.02
as of December 31, 2015 and 2014. Moreover, the loan amount in Australia dollars amounted to AU$20,227,983
as of December 31, 2015 and 2014. The total amount of loans drawn down amounted to AU$8,728,952.74 and
AU$3,068,404.07, and the undisbursed committed balance amounted to AU$11,499,030.26 and AU$17,159,578.93.
2) Pursuant to the Regulations for Investments by the International Cooperation and Development Fund, the committed
amounts denominated in U.S. dollars under the outstanding contracts entered into by the TaiwanICDF amounted
to US$65,000,000 and US$60,000,000, of which US$49,200,679 and US$59,168,366 had been invested as of
December 31, 2015 and 2014, respectively. The amount committed but not yet disbursed was US$15,799,321 and
US$831,634 as of December 31, 2015 and 2014, respectively. Additionally, the committed amounts denominated in
NT dollars under the outstanding investment agreement entered into by the TaiwanICDF has been fully disbursed, with
the balance of NT$130,000,000 as of December 31, 2015 and 2014.
3) The TaiwanICDF had entered into a lease agreement with the MOFA to lease state-owned real estate properties. As
per the lease agreement, the lease period is from October 1, 2015 to September 30, 2020 with the rents charged on a
monthly basis. The rents are calculated as follows:
A. Land: 3% of the most recent official land price per square meter multiplied by the rental area and divided
by 12.
B. Building: 10% of the current taxable building value divided by 12.